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Chopard inks lease at Crown Building

Luxury jeweler Chopard has signed a 2,422 square-foot at the Crown Building (730 Fifth Avenue), where it will open near existing tenants Bulgari, Ermenegildo Zegna, and Mikimoto.

  • Be Smart: The rent is around $3,500 per square foot… While a far cry from the $5,500 paid by Bulgari at the top of the market for 6,500 square feet at the corner, it is a welcome development for an industry battered by pandemic.
  • Dig Deeper: The two-level space, with 1,279 square feet on the main floor and 1,143 square feet on a lower level, will replace Chopard’s Madison Avenue flagship on 63rd Street, where the international jeweler has operated a flagship for 13 years, WWD first reported.
  • Ownership of the retail componentBrookfield took over GGP’s ownership stake in the property when it absorbed the company in 2018. Wharton Properties also owns a stake. [WWD+TRD]

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